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submitted by Tokenomy to tokenomyofficial [link] [comments]
Author: Christian Hsieh, CEO of Tokenomy
This paper examines some explanations for the continual global market demand for the U.S. dollar, the rise of stablecoins, and the utility and opportunities that crypto dollars can offer to both the cryptocurrency and traditional markets.
The U.S. dollar, dominant in world trade since the establishment of the 1944 Bretton Woods System, is unequivocally the world's most demanded reserve currency. Today, more than 61% of foreign bank reserves and nearly 40% of the entire world's debt is denominated in U.S. dollars1.
However, there is a massive supply and demand imbalance in the U.S. dollar market. On the supply side, central banks throughout the world have implemented more than a decade-long accommodative monetary policy since the 2008 global financial crisis. The COVID-19 pandemic further exacerbated the need for central banks to provide necessary liquidity and keep staggering economies moving. While the Federal Reserve leads the effort of "money printing" and stimulus programs, the current money supply still cannot meet the constant high demand for the U.S. dollar2. Let us review some of the reasons for this constant dollar demand from a few economic fundamentals.
Demand for U.S. DollarsFirstly, most of the world's trade is denominated in U.S. dollars. Chief Economist of the IMF, Gita Gopinath, has compiled data reflecting that the U.S. dollar's share of invoicing was 4.7 times larger than America's share of the value of imports, and 3.1 times its share of world exports3. The U.S. dollar is the dominant "invoicing currency" in most developing countries4.
This U.S. dollar preference also directly impacts the world's debt. According to the Bank of International Settlements, there is over $67 trillion in U.S. dollar denominated debt globally, and borrowing outside of the U.S. accounted for $12.5 trillion in Q1 20205. There is an immense demand for U.S. dollars every year just to service these dollar debts. The annual U.S. dollar buying demand is easily over $1 trillion assuming the borrowing cost is at 1.5% (1 year LIBOR + 1%) per year, a conservative estimate.
Secondly, since the U.S. has a much stronger economy compared to its global peers, a higher return on investments draws U.S. dollar demand from everywhere in the world, to invest in companies both in the public and private markets. The U.S. hosts the largest stock markets in the world with more than $33 trillion in public market capitalization (combined both NYSE and NASDAQ)6. For the private market, North America's total share is well over 60% of the $6.5 trillion global assets under management across private equity, real assets, and private debt investments7. The demand for higher quality investments extends to the fixed income market as well. As countries like Japan and Switzerland currently have negative-yielding interest rates8, fixed income investors' quest for yield in the developed economies leads them back to the U.S. debt market. As of July 2020, there are $15 trillion worth of negative-yielding debt securities globally (see chart). In comparison, the positive, low-yielding U.S. debt remains a sound fixed income strategy for conservative investors in uncertain market conditions.
Source: Bloomberg
Last, but not least, there are many developing economies experiencing failing monetary policies, where hyperinflation has become a real national disaster. A classic example is Venezuela, where the currency Bolivar became practically worthless as the inflation rate skyrocketed to 10,000,000% in 20199. The recent Beirut port explosion in Lebanon caused a sudden economic meltdown and compounded its already troubled financial market, where inflation has soared to over 112% year on year10. For citizens living in unstable regions such as these, the only reliable store of value is the U.S. dollar. According to the Chainalysis 2020 Geography of Cryptocurrency Report, Venezuela has become one of the most active cryptocurrency trading countries11. The demand for cryptocurrency surges as a flight to safety mentality drives Venezuelans to acquire U.S. dollars to preserve savings that they might otherwise lose. The growth for cryptocurrency activities in those regions is fueled by these desperate citizens using cryptocurrencies as rails to access the U.S. dollar, on top of acquiring actual Bitcoin or other underlying crypto assets.
The Rise of Crypto DollarsDue to the highly volatile nature of cryptocurrencies, USD stablecoin, a crypto-powered blockchain token that pegs its value to the U.S. dollar, was introduced to provide stable dollar exposure in the crypto trading sphere. Tether is the first of its kind. Issued in 2014 on the bitcoin blockchain (Omni layer protocol), under the token symbol USDT, it attempts to provide crypto traders with a stable settlement currency while they trade in and out of various crypto assets. The reason behind the stablecoin creation was to address the inefficient and burdensome aspects of having to move fiat U.S. dollars between the legacy banking system and crypto exchanges. Because one USDT is theoretically backed by one U.S. dollar, traders can use USDT to trade and settle to fiat dollars. It was not until 2017 that the majority of traders seemed to realize Tether's intended utility and started using it widely. As of April 2019, USDT trading volume started exceeding the trading volume of bitcoina12, and it now dominates the crypto trading sphere with over $50 billion average daily trading volume13.
An interesting aspect of USDT is that although the claimed 1:1 backing with U.S. dollar collateral is in question, and the Tether company is in reality running fractional reserves through a loose offshore corporate structure, Tether's trading volume and adoption continues to grow rapidly14. Perhaps in comparison to fiat U.S. dollars, which is not really backed by anything, Tether still has cash equivalents in reserves and crypto traders favor its liquidity and convenience over its lack of legitimacy. For those who are concerned about Tether's solvency, they can now purchase credit default swaps for downside protection15. On the other hand, USDC, the more compliant contender, takes a distant second spot with total coin circulation of $1.8 billion, versus USDT at $14.5 billion (at the time of publication). It is still too early to tell who is the ultimate leader in the stablecoin arena, as more and more stablecoins are launching to offer various functions and supporting mechanisms. There are three main categories of stablecoin: fiat-backed, crypto-collateralized, and non-collateralized algorithm based stablecoins. Most of these are still at an experimental phase, and readers can learn more about them here. With the continuous innovation of stablecoin development, the utility stablecoins provide in the overall crypto market will become more apparent.
Institutional DevelopmentsIn addition to trade settlement, stablecoins can be applied in many other areas. Cross-border payments and remittances is an inefficient market that desperately needs innovation. In 2020, the average cost of sending money across the world is around 7%16, and it takes days to settle. The World Bank aims to reduce remittance fees to 3% by 2030. With the implementation of blockchain technology, this cost could be further reduced close to zero.
J.P. Morgan, the largest bank in the U.S., has created an Interbank Information Network (IIN) with 416 global Institutions to transform the speed of payment flows through its own JPM Coin, another type of crypto dollar17. Although people argue that JPM Coin is not considered a cryptocurrency as it cannot trade openly on a public blockchain, it is by far the largest scale experiment with all the institutional participants trading within the "permissioned" blockchain. It might be more accurate to refer to it as the use of distributed ledger technology (DLT) instead of "blockchain" in this context. Nevertheless, we should keep in mind that as J.P. Morgan currently moves $6 trillion U.S. dollars per day18, the scale of this experiment would create a considerable impact in the international payment and remittance market if it were successful. Potentially the day will come when regulated crypto exchanges become participants of IIN, and the link between public and private crypto assets can be instantly connected, unlocking greater possibilities in blockchain applications.
Many central banks are also in talks about developing their own central bank digital currency (CBDC). Although this idea was not new, the discussion was brought to the forefront due to Facebook's aggressive Libra project announcement in June 2019 and the public attention that followed. As of July 2020, at least 36 central banks have published some sort of CBDC framework. While each nation has a slightly different motivation behind its currency digitization initiative, ranging from payment safety, transaction efficiency, easy monetary implementation, or financial inclusion, these central banks are committed to deploying a new digital payment infrastructure. When it comes to the technical architectures, research from BIS indicates that most of the current proofs-of-concept tend to be based upon distributed ledger technology (permissioned blockchain)19.
These institutional experiments are laying an essential foundation for an improved global payment infrastructure, where instant and frictionless cross-border settlements can take place with minimal costs. Of course, the interoperability of private DLT tokens and public blockchain stablecoins has yet to be explored, but the innovation with both public and private blockchain efforts could eventually merge. This was highlighted recently by the Governor of the Bank of England who stated that "stablecoins and CBDC could sit alongside each other20". One thing for certain is that crypto dollars (or other fiat-linked digital currencies) are going to play a significant role in our future economy.
Future OpportunitiesThere is never a dull moment in the crypto sector. The industry narratives constantly shift as innovation continues to evolve. Twelve years since its inception, Bitcoin has evolved from an abstract subject to a familiar concept. Its role as a secured, scarce, decentralized digital store of value has continued to gain acceptance, and it is well on its way to becoming an investable asset class as a portfolio hedge against asset price inflation and fiat currency depreciation. Stablecoins have proven to be useful as proxy dollars in the crypto world, similar to how dollars are essential in the traditional world. It is only a matter of time before stablecoins or private digital tokens dominate the cross-border payments and global remittances industry.
There are no shortages of hypes and experiments that draw new participants into the crypto space, such as smart contracts, new blockchains, ICOs, tokenization of things, or the most recent trends on DeFi tokens. These projects highlight the possibilities for a much more robust digital future, but the market also needs time to test and adopt. A reliable digital payment infrastructure must be built first in order to allow these experiments to flourish.
In this paper we examined the historical background and economic reasons for the U.S. dollar's dominance in the world, and the probable conclusion is that the demand for U.S. dollars will likely continue, especially in the middle of a global pandemic, accompanied by a worldwide economic slowdown. The current monetary system is far from perfect, but there are no better alternatives for replacement at least in the near term. Incremental improvements are being made in both the public and private sectors, and stablecoins have a definite role to play in both the traditional and the new crypto world.
Thank you.
[1] How the US dollar became the world's reserve currency, Investopedia
[2] The dollar is in high demand, prone to dangerous appreciation, The Economist
[3] Dollar dominance in trade and finance, Gita Gopinath
[4] Global trades dependence on dollars, The Economist & IMF working papers
[5] Total credit to non-bank borrowers by currency of denomination, BIS
[6] Biggest stock exchanges in the world, Business Insider
[7] McKinsey Global Private Market Review 2020, McKinsey & Company
[8] Central banks current interest rates, Global Rates
[9] Venezuela hyperinflation hits 10 million percent, CNBC
[10] Lebanon inflation crisis, Reuters
[11] Venezuela cryptocurrency market, Chainalysis
[12] The most used cryptocurrency isn't Bitcoin, Bloomberg
[13] Trading volume of all crypto assets, coinmarketcap.com
[14] Tether US dollar peg is no longer credible, Forbes
[15] New crypto derivatives let you bet on (or against) Tether's solvency, Coindesk
[16] Remittance Price Worldwide, The World Bank
[17] Interbank Information Network, J.P. Morgan
[18] Jamie Dimon interview, CBS News
[19] Rise of the central bank digital currency, BIS
[20] Speech by Andrew Bailey, 3 September 2020, Bank of England
https://preview.redd.it/1rf74ljv34l51.png?width=960&format=png&auto=webp&s=566235871ce22dd3078f0532dfb672bff6eb0707submitted by WorriedXVanilla to u/WorriedXVanilla [link] [comments]
The irony of financial markets is that this business that officially has got as much regulation as arms trafficking, has also got the same problem –- numerous illegal entities that evolve around the niche.
Scam brokers, funds recovery services that rob the robbed traders, HYIPs, "learn how to make millions overnight" trading courses and a number of other schemes all tend to exploit the weak point of human nature – the belief that there is the magic device with the "MORE MONEY" button out there, that someone can sell you.
A thief shouting "Thief!"Considering the above there is a high demand in society for truthful and unbiased information about the market players. WikiFX claims to be the provider of such honest information about brokers but in fact, makes money by blackmailing brokers and promoting any company that offers to pay enough in their rankings.
WikiFX is a classic illustration of a thief shouting "Get the thief!" louder than anybody else in the crowd. The strategy works unfortunately and traders tend to trust WikiFx broker's ratings without questioning what these ratings are based on and who sponsors this global brokers' database.
Paving the road with some good intentionsEven the most horrible crimes against humanity were done under the cover of best intentions. Starting with the first crusades and ending with the holocaust. There are always some sound arguments, protected people and reliable methods.
Ask any trader whether each forex broker must be regulated by a third party? The answer will be "yes" with a near 100% probability and this answer is totally correct. Know-your-customer procedures and some unbiased third-party control are essential for maintaining the overall transparency of any business in a sphere of finance. This is the argument that WikiFX starts with when promoting its service and there is absolutely no point to argue. Starting with an indisputable truth is a good strategy to win the debate.
"The long-term presence on the market adds credibility", – says WikiFX, and hears "yes" again.
"Don't you agree that the longer the company is in the business, the better?". "Sure", – the trader agrees one more time.
The mission is completed. This is when the broker ranker can add any other criteria to their appraisal methods. Traders will tend to trust the service because they've agreed upon the most important criteria. The rest are minor details.
But what if the rest of the appraisal methods are not just minor issues? What if these details can be the means to manipulate the facts as much as they want to?
Can WikiFX appraisal criteria be trusted?If we take a look at any broker's WikiFX rating, we can see that the criteria of appraisal are the following:
WikiFX Forex com example
Looks good. Really. Regardless of the attitude to this particular brokerage, the work seems to be done fine. All the regulators are listed below, the information on the used software, licensing, and years of operation is included.
But what if we take some other random brokerage with one of the lowest rankings at WikiFX?
NinjaTraderBrokerage WIkiFX Ranking
This is where the truth reveals itself. Once again, regardless of the attitude to this particular brokerage this is really easy to find out what they do, what licenses they've got and what kind of software they use.
Suspicious clone? Seriously? If WikiFX staff cared enough to do any investigation prior to stamping that "Suspicious" mark on the brokerage, they would have seen that both domains, nijatrader com and ninjatraderbrokerage com belong to the same entity.
NinyaTrader whois data
If they cared enough to collect information on the brokerage from at least one reliable source, like Investopedia or any other similarly known database, they would also have found out that the company not only provides the brokerage service, but also is known for its trading platform with advanced technical analysis tools. But the only trading software that WikiFX considers reliable seems to be MT4/MT5. They simply ignore the fact that trading does not evolve around MetaTrader products, no matter how good and popular they are. WikiFX lowers the score of any brokerage with custom-developed software. We can clearly see this with the above example.
Other criteria that WikiFX is proud to use for the broker's appraisal are regulations. Using the same example let's see how well they do the appraisal in this field. As you can see above, WikiFX used the "Suspicious Regulatory License" stamp for NinjaTrader Brokerage.
And here is what The National Futures Association, that NinjaTrader is registered with as a futures broker has on its record:
NFA regulation of NTB proof that WikiFX did not consider to be trustworthy
We can't expect every trader to know that any futures broker that wants to operate on the US market must be a member of NFA. This is the requirement of the Commodity Futures Trading Commission regarding the futures broker's operations. But this is totally unacceptable for a broker ranking website, which WikiFX claims to be, to mark NFA-registered futures brokerage as non-reliable.
By the way, did you notice on the above screenshot that NTB has obtained the NFA license in 2004? Yet, this does not prevent WikiFX from claiming that the brokerage has only been providing its services for 1-2 years only, instead of the factual 16 years of operations.
We can long discuss the reasons that lie behind such selectivity of WikiFX but this random example clearly shows that any brokerage that provides access to non-forex derivatives trading or dares to suggest custom-developed software to its traders is in danger of receiving a negative review at WikiFX regardless of the factual reliability and regulations.
What lies beneath WikiFX selectivity?WikiFX claims to have a team of professionals that are all involved in objective appraisal of broker's services, licenses and used software. The methods used by these professionals remain unrevealed and as we see from the above comparison two similarly reliable brokerages can get any score from 1.0 and up to 10.0 at WikiFX, no matter what regulations they've got, for how long they've been in the business and what kind of software they use.
This is difficult to say what lies behind such selectivity with 100% confidence. The first thing that comes to mind is that WikiFX might be affiliated with some brokers. The hypothesis gets even more realistic if we try to understand who sponsors WikiFX.
There are no transparent built-in ads neither on the web-version of the website nor in its applications. There are no paid subscriptions for access to the database. This means that users sponsor the service with neither their attention to ads nor directly. Being the non-charity and non-governmental organization WikiFX can't be sponsored with donations or a government. The only option that we have left is that brokers sponsor this ranking system directly, which automatically makes the whole system non-reliable and highly biased.
The only transparent method that we know WikiFX uses to collect money is sponsorship fees they collect from their offline events participants. Let's have a look at the exhibitors of the recent WikiFX Expo in Thailand.
WikiFX Expo Exhibitors
Murky & MurkierSo far we've only discussed the facts that anyone can check himself using free tools and sources.
It was not that difficult to discover that WikiFX uses non-transparent standards for brokers' appraisal. It ignores the specifics of some brokerages lowering their scores due to non-standard derivatives they offer to trade or custom trading software. It also promotes non-regulated and non-licensed brokerages, which is 100% against the declared WikiFX values and mission.
The rumors are that this company was also noticed blackmailing brokers with the purpose of making them pay for better reviews at WikiFX. There are also some signs that indicate suspicious promotion of WikiFX platform through social media and Quora. Some of the WikiFX positive reviews also look highly suspicious. All of the above is a matter of further investigation.
Nevertheless, thousands of users keep relying on the information provided by this scam ranking system. It may even look like all these users are satisfied. WikiFX has got 4.5 starts at Google Play, which sounds good enough. However, positive WikiFX reviews use similar semantics and are also highly suspicious. Despite the high average grade, Google Play finds the following messages to be most relevant and brings them to the top of WikiFX reviews:
Google Play most relevant WikiFX reviews
You've got the facts now and it's time to make your own conclusions.
Long-Term Financing. Long-term financing is usually needed for acquiring new equipment, R&D, cash flow enhancement, and company expansion. Some of the major methods for long-term financing are discussed below. Equity Financing. Equity financing includes preferred stocks and common stocks. This method is less risky in respect to cash flow ... Long #Term #Holds #Stock #ETF My long term holds list: ... source . Investopedia. Alpha Investopedia; Beta Investopedia; Derivatives Investopedia; Ebitda Investopedia; Equity Investopedia; Futures Investopedia; Irr Investopedia; Leverage Investopedia ; Security Investopedia; Swap Investopedia; Wacc Investopedia; Warrant Investopedia; Options Trading. Binary Options; IQ Options; Nse Option ... By David Harper (Contact David)Long-term liabilities are company obligations that extend beyond the current year, or alternately, beyond the current operating cycle.Most commonly, these include long-term debt such as company-issued bonds. Here we look at how debt compares to equity as a part of a company's capital structure, and how to examine the way in which a company uses debt. Commonly used by government agencies and corporations to represent a issuing long term bonds represents an important source of financing for many large ... Investopedia Alpha Investopedia Nov. 21. Long Term Financing Investopedia Forex Long term refers to holding an asset for an extended period of time. Depending on the type of security, a long-term asset can be held for as little as one year or for as long as 30 years or more. Even Lot: A normal unit of trading for securities or bonds. An even lot purchase of stock is 100 shares, while an even lot purchase for bonds is five shares. A stock transaction that involves less ...
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Correlations identify things people with a positive opinion of White House Black Market are more likely to rate positively than the rest of the population. The list is sorted with the most strongly correlated things at the top.

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text: Good system management not only requires managing the systems themselves, but requires careful planning to make systems interact with each other, auditing of the systems once the systems are built, and proactive maintenance of all systems. Organizations also rely on organizational policies, such as Acceptable Use Policies to bolster the technical aspect of system management. This course explores many of the behind the scenes requirements of good system management. The first half of the course covers how to build security into system management process and the organization policies necessary for any enterprise to follow. The latter half of the course focuses on auditing and maintenance of systems once they have been designed, and implemented. By the end of the course you should be able to design and construct organizational policies based on a set of requirements, audit a system based on those requirements, and make sure systems adhere technically to the set of requirements.


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As The Voice and Revolution Return, NBC Hopes to Spring Back
NBC's latest Jay Leno debacle - not to be confused with its previous Jay Leno debacles - has at least momentarily distracted everyone from the Peacock network's other woes.
Even if Jimmy Fallon is on deck to take over The Tonight Show, the earliest that will happen is a year from now. NBC has more pressing issues right now, starting with primetime.
It's been the coldest of winters for NBC. The network ended February sweeps in fifth place, and by mid-March, it slid to third place season-to-date among the advertiser-coveted adults 18-49 demographic (behind CBS and Fox). Plus, on March 13, NBC gave up the fight to make Smash a hit and exiled the show to Saturday nights.
If last fall's ratings uptick gave NBC a false positive, on the flip side, network execs hope that this winter's collapse has been a false negative. NBC struggled through the cold months without its three biggest guns - Sunday Night Football, The Voice and new drama Revolution. With the return of the latter two on Monday, the network hopes to at least stabilize its decline.
"Ten of our highest rated fall shows weren't on our air during the first three months of the year," says Jeff Bader, NBC's president of program planning, strategy and research, who points to the shows mentioned above, as well as Parenthood and Grimm among others. "Fortunately at the end of March we'll have three hours of The Voice back along with Revolution and Grimm. That right there should help us considerably. We should regain some of the momentum going into May that we had in fall."
There are no guarantees, however. The Voice returns with two new judges (Shakira and Usher), and American Idol'sratings drop this season could signify that audiences have tired of the TV's singing shows. Also, Revolution is returning with good reviews, but has been off the air for four months, potentially putting a dent in its momentum.
Bader admits the lack of its key players this winter was not ideal: "Next year, we'll plan differently," he says. For one thing, NBC will have the benefit of the Winter Olympics in 2014. The network also has high hopes that this pilot season will spark a new hit, starting with Michael J. Fox's upcoming sitcom.
But that's next year. For now, as it rebuilds, NBC will rely on a reality-heavy schedule to get through the spring. In addition to three hours of The Voice per week, the network just expanded All-Star Celebrity Apprentice back to two hours (it had been slated for just an hour this year). The new Eva Longoria-produced two-hour dating show Ready for Love has been movedoff Sundays and into a plum Tuesday night slot behind The Voice beginning April 9. "We changed the schedule to capitalize on The Voice launch pad to launch a new show," Bader says.
Besides reality, NBC also has the new Bryan Fuller-created take on Hannibal, which takes over the Thursday 10 p.m. slot (where Do No Harm lasted just two weeks earlier this year) on April 4. It's a dark, challenging show that has earned critical raves (including from TV Guide Magazine's Matt Roush) but faces tough competition in ABC's Scandal and CBS' Elementary.
But it will likely be The Voice that makes or breaks the rest of the season for NBC. The singing show has been on a ratings roll, and in success could even push NBC back in front of Fox for the season.
NBC, of course, isn't the only network using reality to try to keep its head above water this spring. "There is definitely a shift in how we're watching TV," says Bader, pointing to across-the-board declines. That's why ABC's and Fox's schedules are also full of unscripted fare. Says one rival network exec: "We are all limping to the end."
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Monster Jacks
Bouldering and sport climbing at the mystical Peruvian hotspot Hatun Machay.
Like most gringos, we came to Huaraz, Peru, to climb some big snowy peaks in the Cordillera Blanca, a 112-mile range with settled weather and 16 6,000-meter (19,685-foot) goliaths, including the hulking Huascarán (22,205 feet).
Huaraz is situated at 10,000 feet and base camps are typically around 14,000 feet, so it makes sense to spend a few days in the city acclimatizing, lining up supplies and getting to know the town. During this lull we discovered that mountaineering was just one of the many diversions to be found in the pleasantly cosmopolitan city of 100,000. Between trips to the mountains we lived a life of dissipation: breakfast at Café Andino on the square, bouldering on the nearby granite blocks of Huanchac, steaming in the eucalyptus sauna, feasting on anticuchos (skewered beef heart), cuy (guinea pig) and cancha (a toasted corn snack), drinking Pilsen Callao and Cusquenas till 5 p.m. and then switching to rounds of Pisco Sours at the Vagamundo travel bar, and finally dancing in our mountain boots and smelly polypro at the Tambo Disco with shy, young, dark-eyed Peruvian girls. We'd roll up to Zarela's Hostel at an ungodly pre-dawn hour, rattle the gate to wake the guard, fall into bed and repeat the next day.
At some point I noticed a large-format photo book called Bosque de Piedras (Forest of Rocks) on the table at Zarela's. It showed acres of odd towers, convoluted faces and mazes of overhanging, knurled blocks that squatted on perfectly flat pampas grass plats like an abandoned game of monster jacks. When I asked Zarela about the area she explained that it was an ancient pre-Incan holy place known for abundant rock art and ghosts.
"The rocks talk," she said. "You can hear them if you know how to listen. It's called Hatun Machay, which means 'Big Cave' in Quechua."
The next day I hired a taxi and rode for an hour and a half to the edge of the stone forest, which abruptly broke the gently rolling 14,000-foot altiplano into stone corridors, boulders and cliffs. I walked along the border of the rocks until I reached a path leading inside and scrambled up an easy face to get perspective. The towers marched to the horizon.
As I slowly wandered the labyrinth, other paths crisscrossed the main trail. I wound through the carved towers and after a few hours I wasn't sure which direction led out, and which way took me deeper into the warren. I ducked into a cave with some strange hieroglyphs and ran my hand over jugs and flakes. The rock was featured volcanic tuff, variable in quality, but highly climbable. On the right margin of the cave, I found a group of human figures etched deeply into the stone. They were misshapen with bloated abdomens, enormous genitals and block-shaped heads.
At that moment I heard a quiet voice speaking in a peculiar, vowel-rich language. It echoed faintly around the cave. I was alone and lost in a legendary stronghold of heart-eating pre-Incan spirits. The rocks were talking to me. Soon it would be dark.
I opened my pocketknife, stepped outside the cave and came face to face with a four-foot-tall, barefoot goatherder. He was dressed in a wool shawl and kilt, holding a crooked stick and wearing a conical felt hat pulled so far down his forehead it almost covered his eyes. When I stepped out of the cave he gasped and raised the stick. I let out a short yelp and skipped off deeper into the rocks.
Before long I reached a natural corral that hemmed some goats. Inside the corral a small round hut with a thatched roof was built out of boulders. Smoke coiled from the chimney and another hobbit-like person sat on the threshold sucking noisily on a clay pipe. I raised my hand in greeting, but he (or she?) just looked at me, unperturbed.
Somehow, through luck or instinct, I found my way back to the taxi and returned to Huaraz. Nobody seemed to know anything about climbing at Hatun Machay, so I left a note at the Casa de Guias suggesting that the area offered a lot of potential for sport climbing and bouldering. I didn't mention my encounter with the locals. They seemed nice enough.
I returned to Hatun Machay a couple of times and explored the maze with a crashpad. The problems we found varied from excellent to horrible. The steep rock tends to be blank or featured with slopers and gritty tufa-like intrusions that are fun to squeeze. We unearthed a few cracks and slabs, but the friable edges and the height of many of the rocks made highballing scary. Since the area is vast, I figured that zones of quality rock would be discovered. And with Hatun Machay so close to Huaraz, the gateway to the Cordillera Blanca, climbers would be coming. More traffic would help clean up the boulders.
The sport-climbing potential appeared to be endless, with ranks and ranks of compact walls receding downhill toward a small village I believe is called Pampas Chicas. Some of the best-looking sport walls and caves are located down there.
Over the past few years Hatun Machay has become a hotspot. A local climber built a refugio on the flat place where my taxi parked and has bolted dozens of routes, and cleaned up bunches of boulders. While it's probably not worth a trip to Peru just to climb at Hatun Machay, this mystical rock forest of the Cordillera Negra should not be missed if you're in the region. Bring shoes, ropes, draws, a compass for exploring, and a couple of fresh hearts for the gods.
THE CLIMBING SEASON RUNS FROM MAY TO JUNE and August to September. Expect long periods of dry and sunny weather, cold nights and infrequent storms. Average highs to 65 F and lows to 45 F.
Huanchac is located about 15 minutes to the northeast of Huaraz at 10,500 feet. You can take a taxi from Huaraz for around $2. Here you can find eight boulders with lines from V0 to V8, 10 to 25 feet high with great landings. If the cowherd gives you a hard time, just give her 2 soles, which is about 70 cents.
Jananhirca is very popular for bouldering among locals and tourists. To reach it, get off before Huanchac in Huacrajirca on the top of a hill by a concrete arch. Head left along a trail, make your first right past the homes and walk down the hillside. One of the best-known boulders is called Gato Seco, with problems from V0 to V10.
Both areas offer high-quality, featured granite and flat landings in a beautiful mountain-ringed setting.
Located south of Huaraz near Lake Conococha, approximately one and a half hours from Huaraz. You can catch a taxi for around $40 round trip if you are going for a day. For more than one day, try to arrange return transportation since it is difficult to catch a ride back.
Alternately, you can take a public bus (combi) from Huaraz to the town of Catac for $1.25 per person.
From there taxis can be hired to Hatun Machay for $10.
You'll find routes from 100 to 264 feet high, from 5.8 to 5.13a. There are hundreds of sport routes and many uniquely shaped boulders to try. You can camp, or stay at a rustic refugio with bunk beds, fireplace and kitchen for $7/night. Maps of the area are available at the Mountclimb climbing shop in Huaraz or at the refugio.
El Horno Pizzeria and Grill: 6ta. Cuadra Luzuriaga Ave. French owned and known for their wood-fired pizza, roasted meats and the best lasagna in Huaraz.
Café Andino: 530 Lucar y Torre Jr. Great coffee, free wifi and American-style food.
Pachamama Restaurant: 687 San Martin Ave. Good place to hang out playing darts or pool. Serving typical Peruvian-style food with bar.
La Casa de Zarela: 1263 Julio Arguedas Jr. ( firstname.lastname@example.com)
Very friendly staff adept at finding cooks and arrieros. Safe and clean.
Edward's Inn: 121 Bolognesi Av. ( firstname.lastname@example.com) One of the most popular hostels in Huaraz, with excellent location and great atmosphere.
Hostal Quintana: 411 Mariscal A. Caceres Jr. (www.hostal-quintana.com) Located two blocks from the Huaraz Main Square with great view of the mountains from the terrace. This is a wonderful place to stay and meet fellow English-speaking trekkers and climbers.
Mountclimbtravel: 421 Mariscal A. Caceres Jr. www.mountclimbtravel.com Climbing and trekking expeditions, mountain equipment rental, logistical support, free climbing information, climbing topos, maps, books, updates.
Casa de Guias: 28G Parque Ginebra (51) 43 421811 Situated near the Plaza de Armas, this is the spot to gather information about all kinds of climbing, recent snow and weather conditions, and notices from people looking for climbing partners.
The central market is mainly a food market but also sells a wide selection of household items, and a nice selection of veggies, fruit, dry goods and meat. Located on De La Cruz Romero and Avenida Raymondi and open from 7 a.m. to 7 p.m. There are other smaller grocery stores on Luzuriaga Ave.
If you're looking for handmade alpaca articles like sweaters, bags, blankets and trinkets, go to the market east of the Plaza De Armas. You can also find little stands with scarves, hats and gloves sold by local women in the streets.
Monterrey, four miles north of Huaraz, is the closest hot spring. Baths and pools with thermal water a bit brown in color but natural. Cost is $2 for entry. Best way to get there is by taxi, $2 one-way.
Chancos has a large and small pool next to natural vapor caves. These springs, located 17 miles outside of Huaraz, are more rural and cost $2. A direct taxi costs around $10 one-way or you can take a combi (with a bunch of people) for $1.25 to Marcara and from there, take a collectivo ($.50) two miles to Chancos. Be sure to check out the tasty choclo (Peruvian corn) sold by the local women.Monster Jacks.


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Well, the New Year is finally upon us. Some of my favorite moments are those great end of the year stories. Here are a few food related ones that caught my eye. While we're obsessed with e-coli and mad cow disease breakout, we have developed some new twists on 'when pigs fly.' Like the web designer who's suing a NYC Scandinavian themed restaurant for the 150 pound decorative moose head with 3-foot-wide antlers that fell off the wall and hit her; got to love that one. Or, how about the rights of farshtoppte katchkas? We now have a politically correct foie gras being produced. Ducks and geese no longer have to suffer forced feeding and the resulting engorged livers sustained to indulge a connoisseur's palate.
This year, on a more serious note, we were forced to take a look at our own production standards. Aside from the Madoff driven stock market fall, we had the tremendous fall from grace of one of our own primary meat processing plants. It's kind of ironic that this year we have witnessed record numbers at food banks and soup kitchens around the nation, and that that same meat producer had fed thousands with his charitable food bank work.
On another note, Raymond Sokolov, of the Wall Street Journal, in a piece entitled Exceptional Food Moments of 2009, described "Mr. Obama continued his foray into ethnogastropolitics by engaging New York-based, Ethiopian-Swedish chef Marcus Samuelsson to cook the administration's first state dinner, an Indian-fusion meal for the Indian Prime Minister Manmohan Singh." A vegetarian dish, by the way, "which included roasted potato dumplings with tomato chutney, chickpeas and okra or green curry prawns, caramelized salsify with smoked collard greens and coconut-aged basmati rice." Yum yum! Who would have ever thought that we would move from glasnost to ethnogastropolitics with Swedish Ethiopian chefs preparing dishes at the White House for a black president of the United States of America? Truly Moshiach is on his way! When you think about it, the ethnogastropolitics concept has been a bona-fide component of our Jewish history and our accompanying tales of persecution. From libels of blood mixed with matzo to kashrus on the run from one pogrom to another, our very make-up is a testament to surviving that particular political combination.
Wishing all our readers a happy, productive and successful secular New Year 2010! May the fiscal New Year be Madoff free, swine flu free, ethnogastropolically correct, and may no moose heads fall upon us.
Best Wishes,


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The mayor of Seaside Heights, New Jersey, says aerial views don't do justice to what the ruined homes look like on the ground.
Post by: Anderson Cooper
Filed under: Hurricane Sandy • Weather
Anderson Cooper goes beyond the headlines to tell stories from many points of view, so you can make up your own mind about the news. Tune in weeknights at 8 and 10 ET on CNN.
Questions or comments? Send an email
Want to know more? Go behind the scenes with AC361°


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A U.N. report says children suffer in Syria, and Secretary Clinton accuses Russia of providing helicopters to al-Assad.
Post by: Anderson Cooper
Filed under: Keeping Them Honest • Syria
Arab league can not set around with there head in the sand. Why aren't they helping the Syrian people. CNN needs to push this issue. Arab league need to take some responsibility to help the region..
Where is the Arab league on this issue.. Turkey and Qatar must do more to help the Syrian people. Turkey has the ability to provide safe zone for the Syrian poplulation.
Anderson Cooper goes beyond the headlines to tell stories from many points of view, so you can make up your own mind about the news. Tune in weeknights at 8 and 10 ET on CNN.
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MIKE STRASSMAN, prolific first ascentionist, writer and videographer, passed away at home in Lone Pine, California, July 1, 2007.
Mike had first ascents on every one of Mount Whitney's Needles, a project that took him decades to complete and facetiously spawned the "East Face Club." He counted nine Needles marching southward from Whitney, gave some of them trademark goofy names, and eventually put FAs on each, like the proud Aiguille Junior (5.10a).
Mike's greatest hits in Arizona include Ides of Middlemarch (5.9+) and Magnas Coloradas (5.11a) at Cochise Stronghold, and discovering the Wall of the Trundling Trolls on Mount Lemmon. In the Sierra, there's Malletosis (5.10b) in Tuolumne, and Switch Hitter (5.10d) and He She (5.10b) in Rock Creek. Mike was a pioneer in the Owens River Gorge—try Nucko, Pride of the North (5.11b) and Steel Monkey (5.12c). The Alabama Hills hold too many Strassman originals to mention.
Mike was best known for directing the 1988 video Moving Over Stone. When I met Mike in 1986 he was fresh out of UCLA film school and inspired me with the dream of making a climbing video. We had no idea what we were getting into. Over the next year, with support from Patagonia and Austin Hearst (of Hearst publishing fame), we ran around shooting the best climbers and areas in the West.
Leasing a shoulder-top TV camera, we discovered that its old-school tube technology was delicate, not built for dangling shots hundreds of feet up. One time it quit on us in Indian Creek, which led to the novel scene of Mike in a desert phone booth with a technician on the line, trying desperately to repair the camera with a Swiss Army knife. Half-shot sequences were adroitly salvaged by fine editing on Mike's part. Months of post-production led to Moving Over Stone, the second-ever climbing video to hit the market. It went on to become the best-selling "rock video" of all time.
Mike formed Range of Light Productions, which became well-known for snowboard and mountain-bike videos. Mike also wrote The Basic Essentials of Rock Climbing and Climbing Big Walls, two classics that launched hundreds of climbing careers, as well as the first-ever guidebook to the Alabama Hills.
The sardonic way Mike treated his own life was sometimes abrasive, even leading to eruptions between friends. But then he would turn generous, even surprisingly civic-minded, like the weekend in the Alabama Hills when he organized top climbers to teach disadvantaged kids to climb.
Mike battled for years with crystal meth, and last spring he wrote a song about it, "Sorry Ass Tweaker," which Peter Mayfield used in his powerful, poignant video warning to teenagers. See www.chromadynamics.com/lifeormeth.html.
To see more posts of friends and family remembering Mike, check out the webpage we launched shortly after Mike died at http://www.debracowan.com/mike/?p=4


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Dual-View paintings are high resolution printings which absorb light during the day and at night emit a calming low light glowing effect. This effectively gives you two completely different pieces of art in one. It will be a great way to start a conversation with all your visitors who will notice your fine art. The special ink we use for printing is ecologically friendly and does not contain any phosphorus.
The lighting images charge with luminous energy from any source of natural or artificial light, after a previous exposure of 25 minutes approximately. The process requires no work from you! Simply hang your canvas wherever you desire, and then come night, observe the stunning new aspect of your new art piece!
The easiest test is to take the painting into direct sunlight and keep it there for 1 minute and then take it to a dark place, with no light.
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Yreka High boys varsity basketball preview: Miners looking to improve this season
Things can only go up for the Yreka Miners boys varsity basketball team this season.
After a 5-21 record last season and going 0-8 in league play, fifth year head coach Christian Birch likes the potential of this year's group.
"Oh yeah, definitely," Birch said when he was asked if he believes the team will fare better this season. "I think they can compete in every game and give teams problems. Last year we didn't compete well."
There is only one returning starter from last season in senior forward Tyler Johnson, who led the team in scoring last year with around 10 points per game and was named the team MVP. Besides being a solid scorer he's also a good rebounder and can drive to the basket well, Birch said.
Birch likes the group of juniors coming up and said the junior varsity team last year showed a lot of potential and believes they will be key contributors. He is high on sophomore point guard Tyler Currie, who Birch said should be a key contributor for the Miners varsity squad.
"He's a good basketball player," he said. "He's just got good basketball sense and has a high basketball IQ."
Yreka opened the season at the 58th Annual Yreka Miners Invitational Basketball Tournament, which began on Thursday and concluded on Saturday.
The Miners went 1-2 and downed Del Norte 50-48 in the seventh place game on Saturday. In that contest, Currie went off for 28 points, including making the game-winning free throw with less than a second left.
Johnson is excited with the potential he sees from this year's team and said the chemistry and the way the team works together has been solid this season.
"We flow together well as a team" he said.
Another player Birch believes should contribute is senior post player David Sellens III, who did not play basketball last season. At 6 feet 5 inches and 250 pounds Birch believes his size and athletic ability will help the squad. While he is still "rusty," the potential is certainly there for him to be a force for the Miners, Birch said.
With only a limited number of practices before the season began on Thursday, Birch said before the season began that he was trying to quickly figure out who can help the squad this season and believes a number of other players can step in and help out.
"I've got a deep team this year," Birch said. "I think they are all going to contribute."
This year's motto for the squad, which is already on team T-shirts is "84-50" which is the length of the basketball court. Birch wants to empathize to the squad the importance to always play hard on both ends of the court the entire game and to give maximum effort the entire contest.
This season, the team is planning to press more on defense. Birch believes this should help get opponents out of their rhythm and be a great benefit to the Miners.
Birch admitted that his squad is on the small size which could be a challenge against bigger teams, but he believes they have a competitive nature which should help them on the court.
While the Northern Athletic League will be very tough again this year Birch is hopeful the squad will be a handful for all of its opponents.
Tonight, Yreka host Lost River at home starting at 7:30 p.m. Starting on Thursday, the Miners will play in a three-day tournament in Mount Shasta.


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This article was originally published in the September/October 1992 issue of Home Energy Magazine. Some formatting inconsistencies may be evident in older archive content.
| Home Energy Home Page | Back Issues of Home Energy |
Home Energy Magazine Online September/October 1992
East Meets West: Gas-Fired Heat Pumps
by Nance Matson
Nancy Matson, P.E., is a consulting engineer and freelance writer on energy and indoor air quality in Navato, Calif.
Someday we may turn on our electric cars, so why not consider driving the air conditioner or the heater? Not just whimsy, natural gas-powered engines that run heat pumps are popular now in Japan and may someday condition the air in many U.S. homes.
A Bit of History
As the 1990s unfold, look for a new kind of energy-efficient heating and cooling appliance-a heat pump powered by an internal combustion engine that runs on natural gas. Thanks to efforts on both sides of the Pacific, this new generation of heat pump may become even more affordable and prevalent than its all-electric predecessor.
In 1981, Japan's Ministry of International Trade and Industry (MITI) launched a small-scale gas cooling technology research association, pairing gas engine manufacturers with HVAC equipment manufacturers. As a result, gas engine-driven heat pumps have been on the market in Japan since 1987. And since the late 1970s, the Gas Research Institute (GRI), the U.S. Department of Energy (DOE), and others funded American research and development of this new technology. Engine-driven, absorption (ammonia and water refrigeration cycle), adsorption (solid/vapor refrigeration cycle, with carbon beds absorbing and desorbing refrigerant), and chemisorption gas heat pumps are among technologies under development.
How Gas Heat Pumps Work
Gas engine-driven heat pumps are basically no different than other kinds of heat pumps-they transfer heat from a source to a sink. Most heat pumps do this using a system of heat-bearing refrigerant- filled piping, compressors, and heat exchangers. Normally, the living space serves as a heat source in the cooling season, and a sink in the heating season. (See A New Generation of Heat Pumps, HE, Mar/Apr '89, p. 10; Ground-Source Heat Pumps, HE, Nov/Dec '90, p. 32; and Heat Pump Study, HE, Mar/Apr '91, p. 29.)
However gas engine-driven heat pumps differ from other kinds of heat pumps in two fundamental ways. Instead of an electric motor, a natural gas engine powers the heat pump compressor. And in the winter, heat recovered from the engine exhaust (as well as a small optional gas boiler) provides supplemental heating to the indoor space and can even be used to defrost icy outdoor coils. Electricity powers the fans and control circuits.
The gas engine-driven heat pumps discussed in this article are split systems with an outdoor unit housing the engine, compressor, and outside heat exchangers, and an indoor unit housing the air handler and inside heat exchangers. Gas heat pumps use either a two-pipe or four-pipe strategy, referring to the number of pipes running between the indoor and outdoor units (see Fig. 1). Both strategies have a refrigerant loop, like that of an electric heat pump, moving heat from source to sink. The four-pipe system contains an extra route for heat to move, in this case, from the engine itself, the source, to a heat exchanger. The indoor heat exchanger is the sink in winter, and during cooling season, the sink is the outdoor heat exchanger.
The unique qualities of the gas engine create an opportunity for adding the extra pipe system. Since the gas heat pump engine is nothing more than a hybrid auto engine, it needs a radiator for cooling. In winter, the inside unit heat exchanger acts as the radiator. The outside unit heat exchanger acts as the radiator in the summer, merely exhausting heat. The two-pipe system exhausts engine heat by transferring it to the refrigerant loop, which carries it to heat exchangers in the indoor and outdoor units. The four-pipe system has an additional water/glycol coolant loop, carrying recovered engine heat to heat exchangers in the indoor and outdoor units (see Fig. 1).
By recovering engine heat, the system heating output can increase by as much as 25%.(1)(2). This means that even at lower outdoor temperatures, heating capacity is higher than with all-electric heat pumps. Consequently the balance point for gas heat pumps is 10-15 degrees F lower than that of conventional electric heat pumps. (The balance point is the temperature above which the heat pump can provide enough heat for the home without the use of supplemental heating.)
Most gas engine heat pumps feature computer chip-operated, variable-speed engines and fans that match the equipment capacity to the actual building load. With variable speed capabilities, the equipment cycles on and off less frequently, reducing engine wear and tear and extending equipment life. Another benefit of variable speed control is that in the cooling mode, when the engines and indoor blowers run at lower speeds, latent cooling capacity increases, reducing indoor humidity levels more effectively.
Gas heat pump engines are designed to have a lifespan of at least 40,000 hours of operation. (In comparison, automotive engines are designed for a lifespan of 2-3,000 hours-70,000-105,00 miles at 35 mph-and lawn and garden engines 500-750 hours.) For a typical residential application in the United States with up to 4,000 hours of operating time per year, this means an engine life of 10-15 years. As the gas heat pump contains an internal combustion engine, it requires annual maintenance (changing the oil, oil filter, air filter, and spark plug) in addition to typical space conditioning equipment maintenance.
From Japan, A Track Record
Gas heat pumps have been sold in Japan since 1987. As part of the development process, Tokyo Gas conducted field tests of five gas engine-driven heat pumps (1-2 tons cooling capacity, a typical residential size) produced by five MITI-sponsored partnerships: Sanyo and Kubota, Matsashita (Panasonic) and Kubota, Mitsibushi and Yamaha, Daikin and Yanmar, and Toshiba and Ishikawagima- Shibaura (see Table 1). All the units tested were the two-pipe version. Engines and compressors were automotive or diesel engines and automotive or general-purpose compressors. All units use R-22 refrigerant. Indoor units are the same as those used for electric heat pump applications. The units also heated water for domestic use, stored in auxiliary tanks.
Tokyo Gas installed the units in 15 residential and commercial buildings and evaluated them for up to 18 months between 1983 and 1985. Tokyo Gas monitored:
At the end of the tests, researchers could determine performance characteristics and pinpoint equipment reliability problems which, in turn, indicated the design modifications needed.
All of the units met cooling and water heating loads during the summer, water heating loads in spring and fall, and space heating loads in the winter. Based on the field test data, researchers determined both steady-state and seasonal Coefficients of Performance (COPs) for each of the five units. (The COP, a dimensionless number, is the ratio of total heating or cooling capacity in Btu/hr, to total energy consumption in Btu/hr, under designated operating conditions.) Steady state COPs for heating at 45 degrees F were 1.20-1.40, and for cooling at 95 degrees F, 0.74-.99 (see Table 1).
Researchers compared estimated operating costs (cooling, heating, and water heating) of the Mashista and Daikin gas heat pumps to two conventional electric heat pump scenarios, one with an electric water heater and the other with a gas water heater (3). In both instances, the gas heat pump operating costs were lower. Operating costs for the electric heat pumps were, with a gas water heater, 16-35% higher than that for the gas heat pumps, and with an electric water heater, 29-56% higher.
Several reliability and design problems emerged including noise, vibration-induced piping damage, leaks, control signal errors, starter unreliability, refrigerant pressure problems, engine and valve corrosion, and inadequate oil tank shielding from rain which caused engine burnout. Manufacturers attempted to correct these faults in later models. However, gas heat pumps by design are more likely to leak refrigerant at the shaft seal, which electric heat pumps avoid by keeping both motor and compressor within one case.
In a second study, after gas engine-driven heat pumps had been in the marketplace for four years with 14,000 installed, Tokyo Gas tracked the incidence of problems from April 1990 to March 1991. This study refined the problems into five main areas:
Tokyo Gas also found that the newer the model, the less frequent these problems appeared, indicating that design was improving. The percentage of units with any kind of trouble at all decreased from 100% for the 1987 model year to 19% for the 1990 model year (4).
U.S. Field Tests
Gas Research Institute has just completed field tests of the York gas engine-driven heat pump. Developed by Battelle Laboratories and GRI, the York unit is a 3-ton capacity, split system gas engine- driven heat pump with a variable speed engine and indoor fan and a two-speed outdoor fan using R-22 refrigerant. Engine heat and an optional natural gas boiler provide supplemental heating and can defrost outside coils (see Table 2).
York dealers trained by Battelle Labs installed gas heat pumps in residences in ten U.S. cities representing a wide variety of climatic conditions (see Table 3 ). Researchers recorded gas and electricity consumption, indoor and outdoor temperatures, and heat pump operating parameters. Researchers evaluated performance, defrosting and cycling, effects of extreme weather conditions, effectiveness of the variable speed control system, and reliability.
The Honeywell-designed variable speed control system worked well and maintained temperatures to within one-half degree of setpoints, according to GRI's Gary Nowakowski. Due to speed modulation and accurate compressor sizing, the gas heat pump heated or cooled the houses quickly and then modulated down to lower speeds to maintain temperature and comfort levels. On average, the gas heat pumps cycled once an hour, providing more consistent comfort levels. (Conventional gas furnaces average six cycles per hour. Single- speed electric heat pumps and air conditioners average three cycles per hour.) Heating supply air temperatures for the York test units were 100 degrees F-115 degrees F. By comparison, conventional electric heat pump supply air temperatures are 10 degrees F-15 degrees F lower, and gas furnaces higher at 120 degrees F-130 degrees F). In most summer months during the field test, relative humidity was maintained at close to 50% in all the houses.
Measured heating seasonal COPs were 1.2-1.5 and cooling seasonal COPs 0.9-1.2 (see Table 4). (Seasonal COPs are calculated over a specified heating and cooling season, and are the ratio of total delivered heating or cooling capacity to total equipment energy input over that time period.) Based on these field tests, GRI estimates energy cost savings of 20%-80% over comparable conventional electric heat pumps and furnace/air conditioners (see Table 4).
According to GRI, the York gas engine heat pump has an equivalent Heating Seasonal Performance Factor (HSPF) of 14.0 and an equivalent Seasonal Energy Efficiency Ratio (SEER) of over 15.0. For comparison, the Trane high-efficiency, variable-speed electric heat pump has an HSPF of 8.40 and a SEER of 14.6-4.8. (HSPF is the total heating output provided by a heat pump during its normal heating season, divided by the total energy consumed by the system. Likewise, SEER is the total cooling output of a heat pump during its normal annual cooling season divided by the total energy input during the same time period (5).)
Beyond Testing-Marketing
In Japan, under the influence of governmental policies geared to improve energy efficiency, gas cooling has been installed in 80% of all new buildings, a small portion of them residential. Equipment first-cost is less important for building owners who otherwise must pay for any additional electric generating capacity they cause. This policy boosts the popularity of gas engine heat pumps, which are produced by Japanese HVAC manufacturers and sold and serviced by the gas utilities.
The majority of Japanese gas heat pumps sold today are split systems or multisplit systems (multiple indoor exchangers connected to a single outdoor heat exchanger) (see Fig. 2). Most are 2-pipe systems (with engine heat recovery on the refrigerant loop) rather than 4- pipe systems, and feature variable-speed controls for the engine with either a single-speed or variable-speed indoor fan.
The Japanese utilities have installed 60,000 units. Gas heat pump manufacturers in Japan include Yamaha (with a 50% market share), Aisin Seiki (mostly larger, commercial size units), Yanmar, Sanyo, Mitsubishi, Nissan, and others. Several Japanese manufacturers, in conjunction with U.S utilities, have been testing their units- prototypes and production models-in various U.S. climates for the past several years.
The York gas engine heat pump is now entering into a field demonstration of 50 units to be sold to consumers in several regions of the country. According to Chuck French of GRI, the demonstration will prime manufacturing and marketing operations in anticipation of a full release of models in 1993. GRI and York expect the unit to be cost-competitive-both in purchase price and operating expenses-with other high-efficiency space-conditioning equipment. It will be sold mostly to the custom housing, replacement, and light commercial markets. As production volume grows and manufacturing costs decrease, the unit will be more competitive with midrange equipment.
York will attempt to advance three environmental selling points to market their gas heat pumps, French believes. Equivalent HSPFs and SEERs exceed the minimum electric heat pump efficiency standards of the National Appliance Energy Conservation Act (NAECA) standards. Also, gas heat pumps, like electric heat pumps, use R-22 refrigerant, an ozone-depleting chlorofluorocarbon gas, but will be able to change over to the same non-CFC refrigerants as electric heat pumps when required by law. (A lingering question is why put CFCs onto the market in the first place along with units that will soon need retrofitting.) According to both the San Francisco Bay Area Air Quality Management District and the South Coast Air Quality District (Los Angeles), the heat pump's 5-hp engine falls below the 50-hp cutoff where Oxides of Nitrogen (NOx) emission regulations come into play. York's NOx emissions have been measured at 300 parts per million.
According to GRI, engine-driven gas heat pumps will benefit homeowners, regulators, utilities, and the environment. They will offer to homeowners the possibility of choosing a cheaper fuel for cooling; to state regulators, a chance to encourage the use of a technology that benefits gas and electric ratepayers, increases efficiency, and fosters environmental quality; to gas utilities, an opportunity to reduce the seasonability of customer gas loads; and to electric utilities, possibly a new demand-side management tool that lowers peak loads and defers new power plant construction.
The Future
In terms of gas heat pump technologies still only on the horizon, the Japan Gas Assoc. is in the process of developing a 1.3-ton residential gas heat pump. MITI has also expanded its gas heat pump program to include absorption units (which use non-CFC, ammonia- based refrigerants) while, in the United States, the DOE and GRI have also been conducting gas heat pump research. For its gas heat pump, York is considering modifications like water heating, generating its own electricity, and a cooling-only use.
The Japanese have proven that gas engine-driven heat pumps are viable. Americans will try to do the same.
1. Development of a 2.5RT Multiple-Indoor- Unit Gas Engine Heat Pump, K. Taira, Yamaha Motor Co. Ltd., ASHRAE Transactions 1992, V.98, pt.1.
2. The Development of Controls for Gas- Engine-Driven Heat Pumps, G.A. Nowakowski, Gas Research Institute; and R.W. Rasmussen, Honeywell Inc.
3. Experimental Results of Field Tests of Gas Engine Heat Pumps-Small-Type Residential Research Union Pilot Test, Tokyo Gas Co., Ltd., December 1985 (in Japanese).
4. Design Considerations for Gas-Engine Heat Pumps, T. Yokoyama, Tokyo Gas Co. Ltd., ASHRAE Transactions 1992, v.98, pt.1.
5. ARI Standard 240-81.
Table 1. Tokyo Gas field test gas heat pump and water heater specifications MANUFACTURER Heat Pump Sanyo Matsashita-Panasonic Mitsubishi Daikin Toshiba Engine Kubota Kubota Yamaha Yanmar Ishikawagima-Shibaura _________________________________________________________________________________________________________ Capacity 1 ton 2 ton 1 ton 1 ton 2 tons Area served 1 room 3 rooms 1 room 3 rooms 2 rooms Engine 2 cycle 2 cycle 4 cycle 4 cycle 4 cycle Compressor Type Rotary Rotary Rotary Rotary Rotary Refrigerant R-22 R-22 R-22 R-22 R-22 Hot water storage 53 gal 61 gal 41 gal 69 gal 53 gal Cooling Performance Capacity 13,770 Btu/hr 19,444 Btu/hr 13,254 Btu/hr 13,651 Btu/hr 20,556 Btu/hr Coeffiecient of Performance (COP) 0.74 0.9 0.96 0.99 0.89 Supply air temperature 59 deg.F 65 deg.F 60deg.F 61 deg.F 60 deg.F Heating Performance Capacity 20,199 Btu/hr 38,929 Btu/hr 19,762 Btu/hr 20,556 Btu/hr 41,310 Btu/hr Coefficient of Performance (COP) 1.2 1.4 1.4 1.31 1.24 Supply air temperature 115deg.F 100deg.F 101deg.F 102deg.F 120deg.F Comments Hot water One room heated Hot water Refrigerant Hot water supplied supplied supplied heated to indoor unit by hot water to indoor unit by engine exhaust to indoor unit during heating; during heating; gas; 2-pipe during heating 4-pipe system 4-pipe system; system uses gas burner _________________________________________________________________________________________________________ Heating mode temperatures: (45deg.F outside, 70deg.F inside) Cooling mode temperatures: (95deg.F outside, 81deg.F inside) Source: Experimental Results of Field Tests of Gas Engine Heat Pump for Residential Use, December 1985, Tokyo Gas Co.
Table 2. York Gas Heat Pump Specifications Capacity Cooling 3 tons Heating 53,500 Btu/hr Coefficient of Performance1 Cooling, at ARI (95deg.F) 0.9 Heating, at ARI (47deg.F) 1.7 Engine Single cylinder, four-stroke, reciprocating, 5 hp Compressor Reciprocating, two-cylinder Maintenance interval 1 year Auxiliary heater Integral gas boiler or domestic hot water heater Outdoor package dimensions 36in. x 43in. x 38in. (HxLxW) Indoor fan motor Electronically commutated ________________________________________________________________________ 1. COP is based on gas input only. Averaged for 20 cities, seasonal gas heating is 130%, and seasonal gas cooling is 100%, including cycling and defrost losses. Source: Gas Research Institute
Table 3. Field Test Seasonal Efficiencies of York Gas Heat Pump Seasonal Seasonal Typical Climate Heating Cooling Location Winter Summer Gas COP Gas COP _____________________________________________________ York, Penn. Average Moderate 1.34 1.00 Chicago, Ill. Cold Moderate 1.27 1.00 Wheaton, Ill. Cold Moderate 1.25 1.03 _____________________________________________________ Girard, Ohio Cold Moderate 1.16 1.16 Baltimore, Md. Mild Humid 1.20 1.07 Maplewood, N.J. Average Average 1.27 1.05 _____________________________________________________ Brooklyn, N.Y. Average Average 1.27 0.93 Phoenix, Ariz. Mild Hot, Dry 1.04 1.02 Atlanta, Ga. Mild Hot, Humid 1.54 1.21 _____________________________________________________ Salt Lake City, Utah (high altitude) Cold Average 1.27 0.93 _____________________________________________________ Note: Seasonal COP is the heating or cooling capacity in Btu divided by the gas heat pump gas consumption in Btu. Maximum electric consumption is 600 W.
Table 4. Estimated Energy Savings for the York 3-ton Gas Heat Pump Location Mode Comparison Savings _________________________________________________________ Chicago Cooling Air Conditioner 50-60% with a SEER of 10 Heating Gas Furnace 20-25% with an AFUE of 78% Phoenix Cooling Air Conditioner 45-50% with a SEER of 10 Heating Electric Heat Pump 35% meeting NAECA minimum standards _________________________________________________________ Based on a 3-ton equipment in houses with 2-3-ton cooling load, and using DOE-2 and temperature-bin analysis Source: GRI
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Trump adviser: Secret warrant may have caught hacker contact
WASHINGTON — Longtime Trump adviser Roger Stone says he believes his contacts with a Russian-linked hacker who took credit for breaching the Democratic National Committee may have been obtained through a FISA warrant, which allows the government to collect the communications of individuals suspected of being agents of a foreign power.
Stone is among a handful of President Donald Trump's associates who are under scrutiny for possible links to Russia during the presidential race. In a statement to The Associated Press, Stone said he's retained two attorneys to explore whether he can compel the government to "either charge me or admit they have no case whatsoever."
The Republican operative has acknowledged having a Twitter exchange with Guccifer 2.0, a hacker that U.S. officials believe has ties to Russia. Stone said he was "unaware at the time of the brief exchange of allegations that the hacker in question is suspected of being a Russian asset."
"I have no relationship with the Russian state, Russian Intelligence or any other Russians," said Stone, who split with Trump's campaign in August 2015 but remains in touch with the president.
Stone's messages with Guccifer 2.0 were first reported by the website The Smoking Gun. He said the story contains information that "could only be learned by surveillance of my domain and eavesdropping on my e-mail, phone calls and texts."
"If these where obtained through a FISA warrant as I believe and the information was leaked to the Smoking Gun, that would constitute a felony," Stone said. He also suggested, without evidence, the government had Trump under surveillance during the presidential campaign.
Trump has accused former President Barack Obama of wiretapping the New York skyscraper where he lived and ran his campaign, though he has provided no evidence to support his explosive allegation. On Monday, the White House started softening Trump's claims, with spokesman Sean Spicer saying the president was referring to general surveillance that may have been approved by the Obama administration.
The FBI, as well as House and Senate committees, are investigating Russia's interference in the 2016 election and possible contacts between Trump associates and Russians. Trump has asked the congressional committees also to investigate his wiretapping allegations, though the Justice Department missed a Monday deadline to provide evidence to the House committee.
Sen. Lindsey Graham, R-S.C., says he's waiting to hear from FBI Director James Comey whether a warrant was issued that would have allowed the Obama administration to tap Trump's phones during the campaign. Graham says he asked Comey to answer by Wednesday and also to say whether the FBI is investigating Russian interference in the 2016 campaign.
If Comey doesn't comply, Graham says Congress "is going to flex its muscle."
"We'll issue a subpoena to get the information, we'll hold up the deputy attorney general's nomination until Congress is provided with the information to finally clear the air as to whether there was ever a warrant issued against the Trump campaign," Graham, who heads the Judiciary Committee's crime and terrorism subcommittee, said Wednesday on NBC's "Today" show.
Republican Sen. John McCain has singled out Stone as a Trump associate who should answer questions about his ties to Russia. The Arizona lawmaker suggested in an interview Sunday with CNN that Stone may have ties to ousted Ukrainian President Viktor Yanukovych.
Stone denied any connection to Yanukovych or his political party. Stone said he did work for a "small pro-Western splinter party" of Ukrainian politician Volydmyr Litwin, calling the effort to help win seats in parliament a "low budget operation."
Stone said he is willing to testify in any Senate hearings that occur "in public and not behind closed doors." He's retained former U.S. Attorney Kendall Coffey and South Florida lawyer Grant Smith to represent him.
Last year, Coffey represented Trump campaign manager Corey Lewandowski when he was charged with simple battery after an altercation with a female reporter. The prosecutor later dropped the charges.


text: Back Even with Weight-Loss Drugs, Losing Pounds Isn't Easy The CDC currently estimates that more than 70 percent of Americans ages 20 years and older are either overweight or obese. Out of the millions of Americans who are overweight and go on a diet each year, many regain all or a part of the weight they lose within five years. Still, the search for the miracle weight-loss cure goes on. The reality is that losing weight requires a change in eating habits and a boost in daily physical activity. You must burn more calories than you consume. For some people, however, prescription weight-loss drugs may help them achieve their weight-loss goal. According to the Weight-control Information Network (WIN), weight-loss medications should be used only by extremely obese people or those who are overweight or obese and have other risk factors for obesity-related illness. The WIN says that these drugs should be used along with a diet and exercise program. Prescription weight-loss drugs are recommended for people who are obese (those with a body mass index of 30 or greater), or for those who are overweight (those with a BMI of 27 to 29.9) and suffer from, or are at risk for, high blood pressure, heart disease, or diabetes. These drugs are usually recommended for people who are obese and have been unable to lose weight after making multiple attempts while under the supervision of a health care provider. A safe and reasonable goal for weight loss is 10 percent of your body weight in six months. How they work Prescription weight-loss drugs work in one of two ways. They can suppress the appetite and increase metabolism by altering the activity of chemical brain messengers called neurotransmitters. Drugs that do this include phentermine. A second type of weight-loss drug reduces the body's ability to absorb fat. The drug orlistat or Alli (over-the-counter) works in this way. Your health care provider will determine which kind is best for you by considering your medical history and the potential side effects and interactions of each drug. Side effects of appetite suppressants include headaches, constipation, back pain, insomnia, dry mouth, nervousness, and upset stomach. Appetite suppressants should not be used if you have hypertension, coronary heart disease, hyperthyroidism, or glaucoma. Phentermine, on rare occasions, has been associated with the development of pulmonary hypertension, a fatal lung condition. Another drug, sibutramine (sold as Meridia), was voluntarily pulled from the market in October 2010, after the FDA found that the drug was associated with an increased risk for heart attack. Side effects of drugs that affect how the body absorbs fat include oily spotting, gas (flatus) sometimes with discharge, urgency to have a bowel movement, fatty or oily stools, and sometimes fecal incontinence. Women may develop menstrual irregularities. People taking orlistat must take a supplemental multivitamin to prevent deficiencies of fat-soluble vitamins. No magic pill Prescription weight-loss drugs are not magic potions. The WIN recommends they be used in conjunction with behavior modification and nutritional counseling so you can make long-term changes in your diet and activity patterns. You'll also need to see your health care provider regularly. Studies indicate if you don't lose four pounds in four weeks, it is unlikely the drug will contribute to significant weight loss. Weight-loss drugs will not keep the weight off forever. Their safety has only been studied over a short period of time. And most studies have found that even with weight-loss drugs, most people will not be able to maintain weight loss over the long term. Drug therapy is only effective when used along with a structured diet and exercise program. Maintaining the weight loss requires a healthy change in lifestyle for the long term. If you don't make lifestyle changes, the weight will return.


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From our friends at the Velveteen Rabbit ~
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From our friends at the Velveteen Rabbit ~
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Thoughtful. Everything on each plate at Border Grill is thoughtfully added with nothing taken for granted. Famous executive chefs Mary Sue Milliken and Susan Feniger surprise you immediately after seating… Read the full article ›
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Update 1/30/2019 Sometimes places change, and for a variety of reasons, we NO LONGER recommend Nacho Daddy as a Las Vegas Top Pick. Nacho Daddy on West Sahara is a… Read the full article ›
Sushi My basic rules when searching for a sushi restaurant in an unfamiliar area are that it be busy and a higher price point. Talking to and observing the sushi… Read the full article ›


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